Gryphon Head Gets 8 Years For $17.5M Stock Tip Scheme

Law360, New York (September 20, 2011, 6:38 PM EDT) -- After delaying his ruling twice, a New York federal judge on Tuesday sentenced the former head of Gryphon Holdings Inc. to eight years in prison for selling investors an estimated $17.5 million in junk stock tips by pretending to be a billionaire stock picker.

U.S. District Judge Jack B. Weinstein had on separate occasions suggested he would sentence Kenneth Marsh to five or 10 years. He decided on eight years in part to keep Marsh out of society and prevent him from reoffending, he said at...
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